Azeri Light crude drops over 3% in global oil markets

The price of one barrel of Azerbaijan's Azeri Light crude oil has dropped by $2.17, or 3.27%, settling at $64.11 on the global market, Report informs, citing sources familiar with oil market data.

Meanwhile, Brent crude's December futures closed at $62.58 per barrel following the latest trading session.

At Türkiye's Ceyhan port, the FOB price for Azeri Light also fell by $2.20, or 3.4%, to $62.44 per barrel.

Azerbaijan's 2025 state budget is based on an average oil price of $70 per barrel.